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The latest news and headlinesMon, 03 Aug 2015 00:22:26 +0000Recession Risk Mounting For Canadahttp://oilprice.com/Energy/Energy-General/Recession-Risk-Mounting-For-Canada.html
oilprice-article-9260The latest economic data from Canada shows that it is inching towards recession, after its economy posted its fifth straight month of contraction. Statistics Canada revealed on July 31 that the Canadian economy shrank by 0.2 percent on an annualized basis in May, perhaps pushing the country over the edge into recessionary territory for the first half of 2015. “There is no sugar-coating this one,” Douglas Porter, BMO chief economist, wrote in a client note. “It’s a sour result.” The poor showing surprised economists,…Fri, 31 Jul 2015 21:23:48 +0000Nick CunninghamChina Getting Serious About Solar Energyhttp://oilprice.com/Alternative-Energy/Solar-Energy/China-Getting-Serious-About-Solar-Energy.html
oilprice-article-9259The world is slowly but steadily increasing its investments in solar energy sector as it becomes more affordable with each passing day. As the global manufacturing hub for solar photo voltaic panels (with nearly 75 percent of total PV panel manufacturing), China is now considered to be the fastest growing market for solar energy for the next five years.China also has a dubious distinction of being the world’s largest carbon emitter. So, in order to reduce rising greenhouse emissions, China continues to announce ambitious clean energy targets.…Fri, 31 Jul 2015 21:14:03 +0000Gaurav AgnihotriWhy A Carbon Tax Would Be The Ultimate Energy Game-Changerhttp://oilprice.com/Energy/Energy-General/Why-A-Carbon-Tax-Would-Be-The-Ultimate-Energy-Game-Changer.html
oilprice-article-9258Last on the list of investment imperatives, and usually least on investors’ minds, is the question of unpleasant side-effects, which Adam Smith called externalities. If you dump garbage on your neighbor’s yard, are you not liable for the cost to clean it up? At the very least it is bad manners. Sometimes it is worse. Does it matter if nearly everyone else is doing it, or at least playing along? The only reason many fossil fuel operations are ‘cost-effective’ is that their side-effects are socialized, i.e. the neighbors have…Fri, 31 Jul 2015 21:12:04 +0000Henry HewittLayoffs Surge As Oil Price Outlook Remains Soberhttp://oilprice.com/Latest-Energy-News/World-News/Layoffs-Surge-As-Oil-Price-Outlook-Remains-Sober.html
oilprice-news-9260Lately the leaders of some of the world’s biggest energy companies have been saying oil prices will remain depressed for some time – perhaps for the next five years – and now they’ve decided to cut their costs in the most painful way possible: massive job cuts.Royal Dutch Shell announced July 30 that it expects to eliminate 6,500 positions. The announcement came the same day it reported that earnings in the second quarter were $3.4 billion, 33 percent lower than the $5.1 billion it made during the same period of 2014.The…Fri, 31 Jul 2015 21:04:41 +0000Andy TullySolar’s Growth Poised To Slowhttp://oilprice.com/Alternative-Energy/Solar-Energy/Solars-Growth-Poised-To-Slow.html
oilprice-article-9257As solar power growth continues to accelerate, it’s time for investors to take a step back and make sure they have realistic expectations. Solar panel pricing has fallen dramatically in the last five years and both rooftop and grid-scale installations have seen enormous growth as a result. Investors have seen the benefits of this explosive growth in the stock price of companies like Solar City. Solar optimists believe this growth has a long road ahead of it. And while the technology certainly does have a lot of potential, this year may see…Fri, 31 Jul 2015 21:03:39 +0000Michael McDonaldPipeline Attack Highlights Payment Problems In Iraqi Kurdistanhttp://oilprice.com/Latest-Energy-News/World-News/Pipeline-Attack-Highlights-Payment-Problems-In-Iraqi-Kurdistan.html
oilprice-news-9259The Norwegian oil company DNO says the bombing of a pipeline from Iraq to Turkey didn’t interrupt production at its key Tawke field in Iraqi Kurdistan because workers were able to divert the crude to local customers.The attack in Turkey’s southeastern province of Sirnak halted the flow of oil northern Iraq along the pipeline from Kirkuk in northern Iraq to Ceyhan, a port city on Turkey’s Mediterranean coast, Turkish Energy Minister Taner Yildiz said July 29.But output from the Tawke field “continued uninterrupted during…Fri, 31 Jul 2015 20:58:12 +0000Andy TullyFirm OPEC And U.S Production Keep Hopes For Higher Oil Prices Downhttp://oilprice.com/Energy/Crude-Oil/Firm-OPEC-And-US-Production-Keep-Hopes-For-Higher-Oil-Prices-Down.html
oilprice-article-9256The US oil directed rig count was up 31 for the month of July and WTI is down about $11 for the month at time of writing. Global total liquids production was up 540,000 bpd in June. The production momentum built in recent years is proving very difficult to switch off. Amongst other things, an inventory of over a thousand wells drilled but uncompleted in the US shale oil patch will continue to be switched on for several months to come. The IEA sees global oil stocks rising at 3.3 Mbpd in 2Q 2015, that is close to 100 Mbbls per month. 1) World total…Fri, 31 Jul 2015 20:57:40 +0000Euan MearnsNuclear Industry Future Far From Clearhttp://oilprice.com/Alternative-Energy/Nuclear-Power/Nuclear-Industry-Future-Far-From-Clear.html
oilprice-article-9255 My uncle was 17 years old, proud of his martial Prussian heritage, when he joined the U.S. Marines, just in time to make the landing on Guadalcanal. He made it through that encounter, was later wounded on Okinawa, recovered, and was training for the invasion of the Japanese mainland when Hiroshima and Nagasaki went up in atomic flames. When we buried him a few years ago, the Marine Honor Guard spokesman on hand said that most of the 500,000 Purple Hearts minted for the invasion were still in inventory. That is fortunate for Americans, though…Fri, 31 Jul 2015 20:51:49 +0000Henry HewittSome Undeniable Value In The Oil Space Right Nowhttp://oilprice.com/Energy/Crude-Oil/Some-Undeniable-Value-In-The-Oil-Space-Right-Now.html
oilprice-article-9254A lot to talk about in the oil sector space as many mavens weighed in this week on oil, while the energy sector experienced what I would call a 'flash rally.' As we near the one-year anniversary of the 'shale bust', it's time to chart a course for the next several months. First, we had the Mad Money interview of Core Labs CEO David Demshur, in essence calling a bottom for oil, but in the most 'geology-prone' way the CEO of a geology engineering company could – he cited the severe front-loaded nature of shale wells and saw incipient production…Fri, 31 Jul 2015 19:05:39 +0000Dan DickerEarnings Season Yielding Surprising Opportunitieshttp://oilprice.com/Energy/Crude-Oil/Earnings-Season-Yielding-Surprising-Opportunities.html
oilprice-article-9253Now that we are over half way through earnings season for companies here in the U.S., there is an interesting trend developing amongst the hard hit energy companies. That trend is not so much in earnings figures, which are obviously abysmal on a year to year basis, but on costs. Some cost-cutting in the industry, and particularly amongst E&P companies, was inevitable and probably essential. What is interesting though is that in many cases cost-cutting has been achieved without cutting production. In fact is some cases, such as Concho Resources…Fri, 31 Jul 2015 18:39:35 +0000Martin TillierWhat You Need To Know About The Alberta Bakkenhttp://oilprice.com/Energy/Crude-Oil/What-You-Need-To-Know-About-The-Alberta-Bakken.html
oilprice-article-9252Introduction Everyone has heard of the Bakken. The Bakken is the reason why North Dakota has emerged as the second largest oil producing state in the U.S., jumping from just 310,000 barrels per day in 2010 to nearly 1.1 million barrels per day in 2014. Upstream oil and gas companies have flocked to the Bakken, gobbling up acreage and drilling at a torrid pace in order to cash in on the basin. Drilling has certainly slowed down as oil prices have collapsed, but the Bakken still has long-term potential. Companies are putting much of their plans on…Fri, 31 Jul 2015 18:37:43 +0000Editorial DeptGlobal Energy Advisory – 31st July 2015http://oilprice.com/Geopolitics/International/Global-Energy-Advisory-31st-July-2015.html
oilprice-article-9251Politics, Geopolitics & ConflictKazakh Oil and the Long Road to the WTOThis week, as Kazakhstan—after 19 years of trying—has finally had its membership in the WTO formally approved, we will take a brief look at Kazakhstan’s oil scene and what’s out there for foreign investors.First things first, Kazakhstan’s WTO process was a painfully long one because of slow progress in enacting energy reforms, among other key reforms and tariff regimes. At the same time that the WTO has approved Kazakhstan’s membership…Fri, 31 Jul 2015 18:36:13 +0000Editorial DeptShift In Production May Herald A Price Bottomhttp://oilprice.com/Energy/Oil-Prices/Shift-In-Production-May-Herald-A-Price-Bottom.html
oilprice-article-9250September Crude Oil(Click Image To Enlarge)Although September Crude Oil futures are set to finish the month sharply lower, the market is in a position to post a weekly closing price reversal bottom, which could fuel the start of a 2 to 3 week counter-trend rally and possibly more.On Tuesday, July 28, crude oil reached a low at $46.68, but closed higher for the day. The subsequent reversal on the daily chart has put the market in a position to also form a potentially bullish closing price reversal bottom on the weekly chart. This will occur following…Fri, 31 Jul 2015 18:29:48 +0000Jim HyerczykTop 6 Myths Driving Oil Prices Downhttp://oilprice.com/Energy/Oil-Prices/Top-6-Myths-Driving-Oil-Prices-Down.html
oilprice-article-9249“Whoever would overthrow the liberty of a nation must begin by subduing the freeness of speech.” ? Benjamin Franklin, Silence Dogood, The Busy-Body, and Early Writings I start with that quote because once the media, as well as politicians for that matter, have no accountability for actions or words then liberty will dissolve. Over the last few weeks I have witnessed another litany of lies that the media insists on putting forth. They come in the form of statements presented as facts to sway opinion while others are opinions quoted by…Fri, 31 Jul 2015 18:09:55 +0000Leonard BreckenThis Week In Energy: Low Oil Prices Inflict Serious Pain This Earnings Seasonhttp://oilprice.com/Energy/Energy-General/This-Week-In-Energy-Low-Oil-Prices-Inflict-Serious-Pain-This-Earnings-Season.html
oilprice-article-9248After another turbulent week in the Chinese stock market, we are left with no clearer picture on how sound the financial system is in the world’s second largest economy. But beyond the stock market, China’s economy is slowing down significantly. Some corporate giants are expressing concerns about the sudden slowdown, with companies like Ford (NYSE: F) projecting a full-year sales decline in China for the first time in 25 years. Factory activity dropped sharply in July, industrial equipment makers are taking hits to their profits this…Fri, 31 Jul 2015 17:54:25 +0000Evan Kelly